at a new measure of vulnerability to poverty. We highlight the importance of current standard of living to better capture … standard expected poverty measures that is commonly found in the literature. We also axiomatically characterize the new class …

This paper demonstrates that well-established biases in decision making under uncertainty can generate poverty traps. A … erroneously undervalue profitable investments, and ii) poverty increases the magnitude of these investment errors. The model … predicts that poverty is perpetuated by inducing poor individuals to underinvest in profitable opportunities to a greater …

A key element of anti-poverty policy is the accurate identification of poor individuals. However, measuring poverty at … collective household model offers an alternative and promising framework to estimate poverty at the individual level while …